{"id":319172,"date":"2024-03-18T15:08:04","date_gmt":"2024-03-18T19:08:04","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=319172"},"modified":"2024-03-18T15:08:04","modified_gmt":"2024-03-18T19:08:04","slug":"cdb-seeks-replenishment-for-special-development-fund-to-continue-tackling-the-regions-development-challenge","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/cdb-seeks-replenishment-for-special-development-fund-to-continue-tackling-the-regions-development-challenge\/","title":{"rendered":"CDB seeks replenishment for special development fund to continue tackling the region’s development challenge"},"content":{"rendered":"
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The Caribbean Development Bank (CDB) is now actively mobilising financing to continue its\u00a0Special Development Fund (SDF)<\/a>, an integral element of the Bank\u2019s poverty reduction and sustainable development efforts.<\/div>\n
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Currently near the end of its 10th<\/sup> four-year cycle, the SDF has disbursed over $2.1 billion in development financing during its current phase, driving significant progress in regional economies. To sustain its impact beyond the present cycle, the CDB is undertaking a replenishment exercise, aiming to increase contributions from existing donors and enlist new contributors.<\/div>\n
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“The Special Development Fund, as the largest pool of concessionary funds from the Caribbean Development Bank, remains crucial in addressing poverty and human development challenges throughout the Caribbean Region. It’s a testament to the power of collaboration and targeted investment. To ensure its sustainability we’re deepening dialogue with current partners and engaging new collaborators to secure resources needed to propel the Region forward despite challenges,\u201d\u00a0CDB\u2019s Acting President, Mr. Isaac Solomon\u00a0explained.<\/div>\n
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The negotiation process, scheduled to run throughout 2024, will commence with the First Meeting of Contributors on March 20, 2024, in Georgetown, Guyana. High-level representatives from CDB’s member countries and global institutions are expected to convene for discussions that will chart the course for the SDF’s future impact.<\/div>\n
<\/div>\n
SDF initiatives, in line with CDB’s goals, focus on enhancing the lives of people in the Bank\u2019s Borrowing Member Countries. From 2013 to 2022, the SDF trained about 8,850 teachers, built over 2,760 classrooms, and improved learning for around 343,400 students. The Fund also [finances] training initiatives for nearly 11,160 stakeholders in agriculture, boosting productivity. Projects impacting roads, transportation, water, and sanitation have benefitted over 1 million citizens in the Region.<\/div>\n
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\u201cPrevious SDF cycles have significantly improved education, agriculture, infrastructure, and other vital areas, directly benefitting the lives of people across the Region, and improving conditions in communities, but continued and even increased support is required from our Contributors to continue to drive progress and we certainly look forward to sustained investment in development programmes that promote the well-being and prosperity of our citizens,\u201d said Ms. Onika Miller, CDB\u2019s Chief Strategy and Accountability Officer.<\/div>\n
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Key sectors which have benefitted from SDF investment and interventions include\u00a0education<\/a>,\u00a0climate change<\/a>, capacity building in government and national institutions,\u00a0poverty reduction<\/a>,\u00a0water security<\/a>, economic\u00a0infrastructure<\/a>, and connectivity. Yet, despite this progress, Caribbean economies remain vulnerable to external forces, with persistent inequalities and pockets of poverty. With its mandate focused on poverty reduction, an adequately financed SDF will continue playing a vital role in addressing the Region’s key development challenges.<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"The Caribbean Development Bank (CDB) is now actively mobilising financing to continue its\u00a0Special Development Fund (SDF), an integral element of the Bank\u2019s poverty reduction and sustainable development efforts. Currently near the end of its 10th four-year cycle, the SDF has…","protected":false},"author":13,"featured_media":319173,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[36,235,285,9,14],"tags":[],"class_list":["post-319172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-development","category-homepage-carousel","category-infrastructure","category-news","category-regional"],"acf":[],"yoast_head":"\nCDB seeks replenishment for special development fund to continue tackling the region's development challenge - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/cdb-seeks-replenishment-for-special-development-fund-to-continue-tackling-the-regions-development-challenge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CDB seeks replenishment for special development fund to continue tackling the region's development challenge - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"The Caribbean Development Bank (CDB) is now actively mobilising financing to continue its\u00a0Special Development Fund (SDF), an integral element of the Bank\u2019s poverty reduction and sustainable development efforts. 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